German Trade Delegation Explores Investment Opportunities in Oman
Muscat, The Gulf Observer: A trade delegation from the Federal Republic of Germany, led by Dr. Robert Habeck, Vice Chancellor and Minister of Economic Affairs and Climate Action, is currently in Oman to explore investment opportunities. This visit aligns with Oman’s Vision 2040 and the economic diplomacy initiatives outlined in the tenth five-year plan (2021-2025). The plan includes the “Raising the Contribution of Foreign Trade to Economic Activity” program, aiming to enhance the role of embassies in marketing Oman and attracting investments.
The Omani Ambassador to Germany, Her Excellency Maitha bint Saif Al Mahrouqi, emphasized the delegation’s focus on sectors like renewable energy, gas, logistical transport, and food security. Discussions centered on Oman’s investment climate, incentives, and the potential for increased gas imports, particularly in light of the European gas crisis.
The embassy aims to facilitate communication between sectors and provide investors with essential information. Recent trends indicate a rise in Omani investor visits to Germany, contributing to economic collaboration. The statistics revealed German investments in Oman exceeded 10 million Omani Riyals in 2022, with total trade reaching OMR 257.5 million by November 2023.
The tourism sector is also in focus, as Oman is set to be the official partner of a major travel exhibition in Berlin in 2024, featuring 64 Omani companies from the travel and tourism sector. The visit holds the potential to strengthen economic ties and foster agreements benefiting Oman’s economy.
